Our firm reached a confidential settlement agreement with a mortgage lender on a wrongful foreclosure claim. Our client was current on her mortgage payments when her loan was transferred to a new lender. The new lender needed proof of her insurance and property tax payments. The plaintiff provided those documents to the new lender and continued making her normal monthly payments thinking everything was fine. However, a few months later, she received a statement informing her that her monthly payments had almost doubled based on insurance and taxes the new lender had calculated. For the next year, the Plaintiff fought the lender on this problem. After numerous telephone calls and discussions, she became extremely frustrated. She was forced to hire a lawyer to contact the lender on her behalf, but that failed to resolve the problem as well. A foreclosure was initiated on her home as the new lender failed to resolve the error in their system. Our firm filed suit on her behalf to stop the foreclosure and save her home. After several years of litigation, a settlement with the lender was reached. The lender agreed to pay cash for our client’s damages and provide a very favorable modification on her existing loan. This resulted in a total settlement in excess of $150,000.
Our firm reached a confidential settlement agreement with a mortgage lender on a wrongful foreclosure claim. A few years back, our client was in-between jobs and needed some assistance from her mortgage company until her income picked back up. She applied for one of the mortgage modification programs that the government had approved of for borrowers in her situation. She was accepted into the program and made her trial modification payments as required. When it came time to permanently modify her loan as required by the guidelines, the lender began requesting numerous additional documents. She satisfied every request as required but was never approved for the program and was eventually foreclosed on as she continued to make her payments. We filed suit on her behalf and after several years of litigation, a settlement with the lender was reached. The lender agreed to pay cash for our client’s damages and waive the mortgage on our client’s home. This resulted in a total settlement in excess of $250,000.00.
Some clients want to save their home but are on the fence about bankruptcy. We have on numerous occasions placed families into a Chapter 13 bankruptcy where you pay back your creditors through a plan that we set up with the bankruptcy Trustee. However, many of our clients are able to dismiss the bankruptcy soon after and save their home through litigation through the Chapter 13 process. We just don't just dump you in a plan and keep you in for years. If there is a way we can get you out of it sooner, and save your home, and take action against your mortgage servicer, even better! We can talk about your options today if you find yourself in this type of situation.
Our firm reached a confidential settlement agreement with one of the larger mortgage lenders in the country on a wrongful foreclosure claim. Our clients, after years of dealing with this mortgage company, were able to place this matter behind them. Due to declining health, the husband of this family had to take a less paying job a few years back. This placed them in a financial bind, and they asked their mortgage company for help. The lender agreed to put them into a modification, and reduced their mortgage payments by about $120 a month. Excited, they submitted all the paperwork, signed all the necessary documents, and sent in the required funds to accept a permanent modification on their home. Then the nightmare began. After months of paying the new amount, the lender notified the borrowers that they were almost ten thousand dollars behind and that foreclosure would take place. Extremely confused and upset, the borrowers contacted the lender on numerous occasions and were assured that this “glitch” would be resolved. In fact, it never was and their home was foreclosed after the borrowers had made every single mortgage payment under their new agreement. After almost two years of litigation, and a few months before trial, a settlement was reached. The borrowers received a cash payment for their damages and the mortgage lender agreed to waive the mortgage completely, resulting in a free home. In all, the total value of their settlement was over $300,000.00.